directors - Colombo Stock Exchange

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k eY p r I n c I pa l S Principals Represented and Duration of Relationship Name Country Brands No. of Years Daimler AG Germany Mercedes-Benz 71 Robert Bosch GmbH Germany Bosch 56 KHD Humbldt Wedag AG Germany KHD 50 Siemens AG Germany Siemens 50 Tata Motors Ltd. India Tata 49 Bosch Ltd. India Bosch-Mico 41 Komatsu Asia & Pacific Pte. Ltd. Singapore Komatsu 41 Komatsu Utility Co. Ltd. Japan Komatsu 41 Komatsu Ltd. Japan Komatsu 41 KSB AG Germany KSB 41 Bomag GmbH Germany Bomag 31 Bosch Automotive Systems Corporation Japan Zexel 26 Robert Bosch Ew. Germany Bosch 26 Carl Zeiss Meditec Germany Zeiss 25 Tognum Singapore Mtu/DDC 23 Tognam GmbH Germany Mtu/DDC 23 Mahindra & Mahindra Ltd. India Mahindra 20 Michelin France Michelin 17 OSRAM GmbH Germany OSRAM 16 DEMAG Cranes & Componants GmbH Germany DEMAG 16 Rane Brake Linings Ltd. India Rane 16 WOMA GmbH Germany WOMA 16 Blaupunkt Werke GmbH Germany Blaupunkt 15 Daimler South East Asia Ptd. Ltd. Singapore Mercedes-Benz 15 India Pistons Ltd. India IPL 15 Fenner (India) Ltd. India Fenner/Pioneer 13 Rane Engine Valves Ltd. India EVL 13 Vossloh-Schwabe GmbH Germany VS 13 Bimetal Bearings Ltd. India Bimite 12 SiTeco Lighting (M) Sdn Bhd Germany SiTeco 11 BF Goodrich USA BF Goodrich 10 John Deere Asia (Pvt) Ltd. Singapore John Deere 9 MRF India MRF 9 Davex Engineering (M) Sdn Bhd Malaysia Davis 8 Draeger Medical Germany Draeger 8 Interpower International Ltd. UK Interpower 8 Power Source International Pte. Ltd. Singapore Europower 8 SSI Schaefer Systems International Pte Ltd. Malaysia Schaefer 8 Claas India Ltd. India CLAAS 7 Daimler Regional Logistic Centre Singapore Mercedez-Benz/Chrysler/Jeep 7 MHE- Demag (s) Ptc. Ltd. Singapore MHE-Demag 7 Chrysler South East Asia Pte. Ltd. Singapore Chrysler/Jeep 6 Everdigm South Korea Rhino 6 Schwing Stetter India Stetter 5 Zenoah Japan Zenoah 5 Bosch Chassis Systems India Ltd. India KBX 4 Carl Zeiss Meditec SAS France Zeiss 4 Fischer Werke GmbH Germany Fischer 4 Gabriel India Ltd. India Gabriel 4 Snap-on Tools (Pvt) Ltd. USA Hoffmann/JBC 4 Sri Bhavani Castings Ltd. India SBP 4 VE Commercial Vehicles Ltd. India Eicher Dem 4 Victor Gaskets India Ltd. India Victor 4 VM MOTORI S.P.A. Italy VM MOTORI 4 Hanwa Company Korea DonYang/Saehan Travis 3 Indo Marine Engineering Co. (Pvt) Ltd. USA GEHL 3 See Hau Global sdn bhd Malaysia Intraco pallet 2 Turbo Bearings (P) Ltd. India Turbo 1 Sri Ramadas Motor Transport Ltd. India SRMT 1 Rudolf Zimmermann Germany RZB (Lighting) Just commenced WD 40 Company USA WD 40 Just commenced Haulotte Group France Haulotte Just commenced Road Trains TschuTschu GMBH Germany Road Trains Tschu-Tschu Just commenced 174 ANNUAL REPORT 2009/10 DIESEL & MOTOR ENGINEERING PLC Historical Note 171 Key Principals 173 Country Report 175 Alphabetical Index 179 Glossary of Financial Terms 180
DIESEL & MOTOR ENGINEERING PLC ANNUAL REPORT 2009/10 counTrY REPORT This section of the Report presents a concise review of Sri Lanka, its physical features, demography and key economic indicators. It also takes a brief look at the global economy during the period under review, which helps to place details of the Sri Lankan economy in context. These details are presented to lend context and provide salient information about Sri Lanka to our readers, particularly our international audience. Officially known as the Democratic Socialist Republic of Sri Lanka and also known as Ceylon, is located about 31 kilometres off the Southern coast of India. As a result of its location in the path of major sea routes, Sri Lanka is a strategic naval link between West Asia and South East Asia. Sri Lanka has also been a centre of Buddhism and culture from ancient times. Sri Lanka is renowned for the production and export of tea, coffee, coconuts and rubber. It boasts a progressive and modern industrial economy with the third highest per capita income in South Asia. The natural beauty of the island’s tropical forests, beaches and landscape, as well as its rich cultural heritage, places Sri Lanka high on the list of the world’s top tourist destinations. With the end of the 30-year bitter separatist war in May 2009 this island nation turns a new chapter in it’s history. Physical Features Total area 65,610 Sq. km. Land area 62,705 Sq. km. Capital Sri Jayawardhanapura Commercial Capital <strong>Colombo</strong> Demographics 2009 2008 2007 2006 2005 Mid-year population (mn persons) 20.5 20.2 20.0 19.8 19.7 Labour force (mn persons) 8.1 7.5 7.4 7.5 8.1 Labour force participation rate (%) 48.7 50.2 49.8 51.2 48.3 Unemployment rate (% of labour force) 5.8 5.2 6.0 6.5 7.7 Source - Central Bank of Sri Lanka Annual Report 2009 Global Economy The global economy is recovering at a moderate rate from a financial and economic crisis. Government policy responses have helped to set in motion the recovery process from the crisis. Countries worldwide are recovering at varying speeds, tepidly in many advanced economies and solidly in most emerging and developing economies. Among the advanced economies, the United States is off to a better start than Europe and Japan. Of the developing economies, Asia is recovering remarkably, while many European and some Commonwealth of Independent States are lagging behind. Global growth is projected to reach 4¼% in 2010 and 2011. Advanced economies are now expected to expand by 2¼% in 2010, and by 2½% in 2011, following a decline in output of more than 3% in 2009. Growth in emerging and developing economies is projected to be over 6¼% during 2010-11, following a modest 2½% in 2009. Source: World Economic Outlook (April, 2010). Sri Lankan Economy In the year 2009 Sri Lanka’s economy grew by 3.5%. However further growth was hindered due to the spillover effects of the global financial and economic crisis and the 30-year separatist war. The main contribution to this yearly growth rate is from the 6.2% growth rate of the final quarter. Also the second half of 2009 witnessed the end of the three-decades of war against LTTE. The return of investor confidence and a positive external outlook for the country, also contributed to this growth rate of 3.5%. Historical Note 171 Key Principals 173 Country Report 175 Alphabetical Index 179 Glossary of Financial Terms 180 175
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Annual Report 2009/10 DIESEL & MOTO
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Vision To be the leader in all the
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Contents Overview Financial Highlig
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oVerView operational hIGhLIGhTS Har
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oVerView CHairMan & Ceo’s REvIEW
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oVerView 12 C H a i r M a n & Ceo
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Overview Board of DIRECTORS ANNUAL
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Overview Group ManaGeMent COMMITTEE
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ManageMent report Business PERFORMA
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ManageMent report The performance o
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ManageMent report Tata Commercial V
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ManageMent report We continue to ex
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ManageMent report A Year of Importa
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ManageMent report Performance Dimo
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ManageMent report The Business unit
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ManageMent report The division has
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ManageMent report FinanCial REvIEW
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ManageMent report Finance Expenses*
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ManageMent report Working Capital T
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ManageMent report Segment Performan
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goVernance report enterprise GOvERN
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goVernance report SECTION 1: THE CO
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goVernance report The Company Secre
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goVernance report The Committee con
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goVernance report RELATIONS WITH SH
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goVernance report e n t e r p r i s
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goVernance report CHairMan & Ceo’
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goVernance report Risk Management A
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goVernance report Industry Trends D
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Page 74 and 75: FINANCIAL CALENDAR Interim Financia
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Page 80 and 81: statement oF diRectoRs’ RespoNsIb
Page 82 and 83: income stAteMeNts 136 Consolidated
Page 84 and 85: statements oF ChANGes IN eqUIty 138
Page 86 and 87: cash Flow statements Reconciliation
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Page 90 and 91: notes to the Financial statements T
Page 92 and 93: notes to the Financial statements A
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Page 112 and 113: Share INFORMATION 1. Stock Exchange
Page 114 and 115: S h a r e I n f o r m aT I o n 9. T
Page 116 and 117: neTwork of BRANCHES, WORKSHOPS & SH
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Page 126 and 127: GloSSarY of FINANCIAL TERMS Account
Page 128 and 129: corporaTe INFORMATION Name of the C
Page 130 and 131: The creative approach we adopted fo
Page 132: f o r m o f p rox Y Instructions as
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